In this report, Technavio
covers the market outlook and growth prospects of theglobal
chest and upright freezer market for 2016-2020. To calculate
market size, the report considers revenue generated from the sales of
chest and upright freezers for the residential segment.

Technavio’s research study segments the global chest and upright freezer
market into the following regions:

Europe

North America

APAC

ROW

Europe: Largest chest and upright freezer market

Technavio analysts predict the chest and upright freezer market in
Europe to exceed USD 2,061 million by 2020, posting a CAGR of close to
4%. Vendors in the market are introducing product innovations and
creating brand awareness programs to attract consumers, thereby leading
to the growth of the market in Europe. The European segment has
considerable contribution from Western European countries like Germany,
France, Spain, Italy, the Netherlands, and the UK.

“Europe is one of the leading markets for frozen food products. Factors
such as change in family dynamics and lifestyle have created more demand
for these products. The number of single households without children in
Europe is also rising. These changes have resulted in a need for
convenience in food preparation,” says Jhansi Mary, Technavio’s lead home,
kitchen, and large appliances research analyst.

Some of the top vendors in the chest and upright freezer market
highlighted in the report are:

Bosch

Danby

Electrolux

Haier

Sears Holding

Whirlpool

The other prominent vendors in the market are Avanti, Midea Group,
Miele, Fisher & Paykel, Summit Appliance, and Sunpentown.

North America

According to Technavio’s analysts, North America is the second largest
market for chest and upright freezers. The US is likely to record the
highest CAGR of any region, growing at a CAGR of nearly 5%. Growth in
the freezer market is directly related to increased demand for frozen
food products and rise in bulk purchasing of these products.

Built-in upright freezers are a relatively new introduction in the
market and is witnessing considerable demand from home improvement and
remodeling projects. Vendors are incorporating features like automatic
defrost and slated steel finish in residential appliances, which were
once only part of commercial and professional appliances. As consumers
become more quality conscious, sales of high-end chest and upright
freezers is likely to increase over the next five years.

APAC

The growth of the chest and upright freezer market in APAC is attributed
to the increasing demand from countries like Japan, China, India, South
Korea, Australia, New Zealand, and Southeast Asian countries. Japan’s
rise in the number of urban consumer population will be favorable for
market growth, as they are one of the leading importers of cold
appliances.

The report states that the most popular channels of distribution in the
APAC region are Hypermarkets, with 36% of the total home appliance sales
conducted through them. The growth of alternative distribution channels,
like organized retailing and e-commerce have also created a favorable
environment for market growth.

“APAC is also witnessing a high demand for high-end appliances like
built-in upright freezers to complement the compact and sophisticated
modular kitchens preferred by high net individuals. Therefore, vendors
in the market are focusing on product innovation to cater to the price
and value conscious consumers of the region,” says Jhansi.

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About Technavio

Technavio is a leading global technology research and advisory company.
The company develops over 2000 pieces of research every year, covering
more than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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at media@technavio.com.